Crossmark Global Holdings Inc. Sells 1,403 Shares of Rockwell Automation, Inc. (NYSE:ROK)

Crossmark Global Holdings Inc. lowered its stake in shares of Rockwell Automation, Inc. (NYSE:ROK) by 20.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,351 shares of the industrial products company’s stock after selling 1,403 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Rockwell Automation were worth $1,437,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CreativeOne Wealth LLC boosted its stake in Rockwell Automation by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 1,277 shares of the industrial products company’s stock worth $372,000 after acquiring an additional 37 shares during the last quarter. Mather Group LLC. boosted its position in shares of Rockwell Automation by 5.9% during the second quarter. Mather Group LLC. now owns 680 shares of the industrial products company’s stock worth $198,000 after purchasing an additional 38 shares in the last quarter. Pure Financial Advisors LLC grew its holdings in shares of Rockwell Automation by 2.7% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,613 shares of the industrial products company’s stock valued at $444,000 after buying an additional 42 shares during the period. Pitcairn Co. increased its position in shares of Rockwell Automation by 4.2% in the 1st quarter. Pitcairn Co. now owns 1,096 shares of the industrial products company’s stock valued at $319,000 after buying an additional 44 shares in the last quarter. Finally, Hancock Whitney Corp increased its position in shares of Rockwell Automation by 2.5% in the 1st quarter. Hancock Whitney Corp now owns 1,805 shares of the industrial products company’s stock valued at $526,000 after buying an additional 44 shares in the last quarter. 75.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ROK. UBS Group began coverage on Rockwell Automation in a research note on Wednesday. They issued a “neutral” rating and a $313.00 target price for the company. Robert W. Baird increased their target price on Rockwell Automation from $280.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Mizuho raised their target price on shares of Rockwell Automation from $245.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. BNP Paribas assumed coverage on shares of Rockwell Automation in a report on Wednesday. They issued an “outperform” rating and a $345.00 price target for the company. Finally, Barclays raised their price objective on shares of Rockwell Automation from $245.00 to $255.00 and gave the stock an “underweight” rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $285.13.

Insider Transactions at Rockwell Automation

In related news, SVP Veena M. Lakkundi sold 579 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $266.86, for a total value of $154,511.94. Following the completion of the sale, the senior vice president now directly owns 4,576 shares in the company, valued at approximately $1,221,151.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.68% of the stock is owned by company insiders.

Rockwell Automation Stock Performance

ROK opened at $286.57 on Thursday. The business’s 50-day simple moving average is $267.36 and its 200 day simple moving average is $266.55. Rockwell Automation, Inc. has a 52-week low of $242.81 and a 52-week high of $312.76. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.17 and a current ratio of 1.84. The firm has a market capitalization of $32.52 billion, a PE ratio of 34.61, a PEG ratio of 2.86 and a beta of 1.36.

Rockwell Automation (NYSE:ROK) last announced its quarterly earnings data on Thursday, November 7th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The company had revenue of $2.04 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the business posted $3.64 EPS. The business’s revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts expect that Rockwell Automation, Inc. will post 9.54 earnings per share for the current fiscal year.

Rockwell Automation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 18th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, November 18th. This is an increase from Rockwell Automation’s previous quarterly dividend of $1.25. Rockwell Automation’s dividend payout ratio (DPR) is 60.39%.

Rockwell Automation declared that its board has approved a stock buyback plan on Thursday, September 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.